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Question
Which of the following is not the salient feature of bank reconciliation statement?
Options
Any undue delay in the clearance of cheques will be shown up by the reconciliation
Reconciliation statement will discourage the accountant of the bank from embezzlement
It helps in finding the actual position of the bank balance
Reconciliation statement is prepared only at the end of the accounting period
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Solution
Reconciliation statement is prepared only at the end of the accounting period
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